Let's look at the BTC derivatives data according to Liqwall::
📉 BTC around $65K
📊 Funding Rate: +0.0020% (8h)
📉 Open Interest: $26.5B (-2.5% in 24h)
📈 75.6% of Binance BTC accounts are still long.
🔥 Around $261M liquidated in 24h:
• $229M Longs
• $32M Shorts
https://liqwall.com/coins/btc
But here's what I find interesting:
Funding rates are still positive across the market.
Despite more than $229M in long liquidations, longs are still dominating positioning.
This raises an important question:
Are we actually done with the long squeeze?
Maybe not.
As long as funding remains positive and longs continue outweighing shorts, there could still be excessive bullish positioning waiting to be flushed out.
But once shorts start building up and positioning becomes heavily skewed to the downside, the risk changes.
That's when things could get interesting.
Stay patient.
Watch the positioning.
Don't get caught on the wrong side.
https://x.com/Adaminssane/status/2121651345555956142
Meanwhile, I'm staying active on N1 Perps.
Market corrections don't mean the end of opportunities. I'm continuing to trade, provide liquidity and accumulate N1 Points while waiting for the next move.
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